WASHINGTON--(BUSINESS WIRE)--The National Energy Marketers Association (NEM) began its 20th Annual National Energy Restructuring Conference yesterday at the Hyatt Regency Capitol Hill Hotel in Washington, DC. The Conference program highlighted the “Growth and Transformation of the Competitive Energy Industry.” “The competitive retail energy industry began twenty years ago when NEM member entrepreneurs used home-loans and other totally at-risk capital to grow this new U.S. industry into approximately 25 million customers who are now shopping for the first time in 100 years.
From meager beginnings, retail energy marketers have created multi-million dollar businesses, some of which are worth billions of dollars and are publically traded. They have created jobs, opportunities and revenues in states opened for competition. And, they have created all manner of new energy product and service offerings to meet the needs of small residential and commercial consumers nationwide. NEM is proud of its role, and that of its members, in transforming the historically highly regulated, monopoly energy business into successful and thriving competitive wholesale and retail energy markets,” said Craig Goodman, President of NEM.
NEM was honored to welcome Naoya Ono, Deputy Director, Electricity Market Office, of Japan’s METI to discuss the momentous opening of the competitive retail market in that country. “The electric market, fully liberalized in 2016, is worth $67 billion with approximately 60 million households and 2.5 million already shopping. The newly liberalized natural gas market is worth $20 billion with approximately 25 million households,” said Ono. And this is just the beginning,” said Goodman, a former high level policy official in three prior presidential Administrations.
Public Service Commission Chairs, Commissioners and key Staff provided an update on the recent retail market initiatives in their states, with CT PURA Vice Chairman John W. Betkoski, III, noting a “positive outlook” for retail market enhancements and MDPSC Commissioner Michael Richard’s, “interest to promote competition in retail markets.” NEM was also pleased to welcome back Catherine Pugh, Mayor of the City of Baltimore, to address the members. Pugh touted her “clean, reliable and affordable” energy vision for Baltimore.
A panel of esteemed NEM members discussed, “The Continued Success of Competitive Retail Energy Markets: The Next Twenty Years.” As noted by Kevin McMinn, COO, U.S. Gas & Electric, preparing for the next two decades will mean a focus on, “data, data, data,” as well proactive engagement with customers, embracing an asset management philosophy and supplier investments in technological infrastructure. Gary Marchiori, President of EnergyMark LLC, explained that improved consumer education from all stakeholders is critical to realizing the full benefits of retail competition.
“Twenty years ago, NEM was founded on the mission of ensuring that the benefits of retail competition reach even the smallest residential consumer. NEM and its members remain committed to that goal and delivering innovative new energy products and services to consumers over the course of the next two decades,” said Goodman.
The National Energy Marketers Association (NEM) is a national, non-profit trade association representing wholesale and retail marketers of natural gas, electricity, as well as energy and financial related products, services, information and advanced technologies throughout the United States, Canada, and the European Union. Additional information about NEM’s 20th Annual National Energy Restructuring Conference is available from NEM's Washington, DC headquarters at (202) 333-3288 or its website at www.energymarketers.com.